Domino's Pizza, Inc. (DPZ) Tuesday said its first-quarter net income climbed to $34.42 million or $0.59 per share from $20.74 million or $0.35 per share in the previous year. Adjusted earnings in the prior-year quarter was $0.47 per share.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the quarter. Analysts' estimates typically exclude special items.
The pizza giant's total revenues for the quarter grew 8.6% to $417.62 million from $384.59 million a year earlier. Analysts estimated revenues of $413.77 million for the quarter.
The company said its revenue growth reflected mainly higher volumes in domestic supply chain as a result of increased order counts, higher royalty revenues derived from higher same store sales in both domestic and international stores and store count growth in international markets.
Domestic same store sales grew 6.2% and international division had same store sales growth of 6.5% during the quarter.
Operating margin was 31.1%, higher than 29.8% in the preceding year.
On April 23, the Board of Directors declared a $0.20 per share quarterly dividend, to shareholders of record on June 14, 2013, payable on June 28.
The company had global net store growth of 75 stores in the first quarter of 2013.
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